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AleksandrR [38]
3 years ago
13

A mutual fund has $2 million in cash and $6 million invested in securities. It currently has 1 million shares outstanding.

Business
1 answer:
Mamont248 [21]3 years ago
5 0

Answer:

a. NAV = 8 per share

b. 250.000 shares

c. 7.95

Explanation:

a. NAV = Market value of shares/number of shares = $8m/1m = $8 per share

b. At the current NAV, it can absorb up to $2 million, or 250,000 shares.

c-1. Its loss by selling 25,000 shares of IBM at $34 instead of $36 = -$2 x 25,000 = -$50,000.

New NAV = $7,950,000 /1m = $7.95

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